Bike Loans

[Vanquish]

Hey, wondering if any bike shop still does bike loans, as in buying from another person but failing to have full cash, borrowing from shop to pay off the owner then slowly paying off the shop over 2-3 yrs?

[andi-andy]

can bro, ASPoon does bike loans. Bike Production also can loan. I'm sure other shops also have. But the amount they loan depends on the condition of the bike. But take bike loan, interest higher, i think its around 6%.

[YuaN_]

where ASPoon?

[fred86]

ASP got 4 branches.. tohguan ubi changi and serangoon

[Vanquish]

means 6% off total bike price or amount i need to borrow?

bike condition should be alright. so it's basically go there sigh loan thing, take the cash and pay back monthly?

 

if possible can u list out the address?

[06apr06]

the 6% is per annum. so if you wanna drag your installment for 2 years it would be 12%, 3 years 18% and so on..of the total bike price. Hope that helps.

[06apr06]

where ASPoon?

 

you can visit ASPHOON website to get the exact 4 branches location.

http://www.asphoon.com

[Yongster]

if i'm not wrong... bike production doing 5%.......

[YuaN_]

if i'm not wrong... bike production doing 5%.......

 

can get loan without buying their bike ar?

[cool_bikers]

sure can lah bro, only interest higher.

[irie_imran]

went to asphoon to check for my own loan.. the guy quoted 10% interest pa for re-loan (i.e not their bikes) and they will only pay 70% of the price to the seller..

 

dont know if can beat the system by telling them a higher agreed price haha

 

but of course they will know the market price .. thats all folks

[wadthefart]

haha

you thought buy car 0 dp with cashback hahaha

bike must pay at least 1k to get the bike mah...

my advise to busy man. dun save the 20 dollar for their service like helping you to do up insurance and transfer of ownership because the time and effort and petrol you using is much more than the 20 dollars.

 

the calculation very simple, loan amount $100 interest 7% 2 years

ie. 2yr x 7% = 14%

(14%/100% x $100 = $14) so 2 yr interest is $14

$14 + $100 = $114 (you own they loan shark)

$114/24months (2 years) = 4.75/month

[coolcat]

Whatever happened to Pleasure Motors? I thought they do this too?

 

Cheers

 

Cat

[Vanquish]

went to asphoon to check for my own loan.. the guy quoted 10% interest pa for re-loan (i.e not their bikes) and they will only pay 70% of the price to the seller..

 

dont know if can beat the system by telling them a higher agreed price haha

 

but of course they will know the market price .. thats all folks

 

70% to seller?

so if i need 2.8k,

 

70% of 2800 = 40

100% of $40 = 4000

 

i need to tell them i need a 4k loan to get 2.8k???

[eliaz]

im sorry...its a good shop indeed..

my wrong accusing it...

 

cheerz

[h4nx1ong]

why not trying at leong seng... heard that there not bad lehz

[Icyling5595]

Bike production dun do CBR reloan other bike i dunno..

Last week i juz went oni.

[Vanquish]

any numbers to call rather then i go down 1 stop by 1 stop. that way sianz one sia...

[Yongster]

can get loan without buying their bike ar?

yah..... can......but u need to let them take a look at the bike that u are getting loan for......

[AhDidi]

old southen also doing loans

[wadthefart]

go nam hong aka old southern must go find AH HUAT, hahaha

cheers

[meerobos123]

eliaz,

 

Becarefulof wat u saying cause it might hurt your pockets, i remember late payment for a month is only $10 and the boss will always ask his clerk to remind u for payment. This depend on yourself how discipline you are on the installment payment. If no money don ride bike instead ride bicycle.

[nesquik]

good luck............

[racrush]

I also did an enquiry 2 weeks ago and seems like not much motor shop want to do the loan but there's still a few of them willing but the interest rate is @ 8%.

[Vanquish]

hmmm, anyone can give me a full address easier?

i think i need to go down later to ask abt the loan thingy...